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Cochin Shipyard IPO

Cochin Shipyard

Minister of State for Shipping, Shri Pon. Radhakrishnan has conveyed that the Cabinet Committee on Economic Affairs has approved the IPO of Cochin Shipyard Ltd. November 2015. The total shares that will be made available for subscription are 3,39,84,000 equity shares of Rs. 10 each consisting of a fresh Issue of 2,26,56,000 equity shares of Rs. 10 each amounting to Rs. 22,65,60,000  and sale of 1,13,28,000 equity shares of Rs.10 each amounting to Rs. 11,32,80,000.

 The funds likely to be generated would depend upon the listing price of a share which is subject to market conditions.  The funds are proposed to be utilized for infrastructure expansion of CSL including projects such as International Ship Repair Facility (ISRF) and New Dry Dock project for building larger vessels /LNG Carriers.

Some trade unions  like Shipyard Employees Sanghhave expressed their opposition to disinvestment of CSL.  Cochin Shipyard has deliberated the issue with trade unions.

Various measures have been adopted by the Government for expansion and modernization of shipbuilding industry in India.  Details of the modernization and expansion programme of the Central Public Sector Shipyards are as follows: 

  1. COCHIN SHIPYARD LIMITED, KOCHI. 

The following expansion programme has been chalked out, namely:-

(a)   International Ship Repair Facility (ISRF) in the Cochin Port Trust Land.

(b)   New Dry Dock project within Cochin Shipyard. 

  1. GARDEN REACH SHIP BUILDERS & ENGINEERS LIMITED, KOLKATA.

The following expansion programme enabling modular construction has been completed at a financial outlay of Rs. 605.85 Crores, namely:-

(a) Modern hull shop, upgradation of TRIBON ship design software, augmenting capacity of inclined berth, shipbuilding shop etc.

(b) Dry Dock of 10,000 Ton capacity, inclined berth of 4500 Ton Capacity, Pier Quay and associated works & systems.

(c)  Goliath Crane of 250 Ton capacity.

(d)   Module Hall, Paint Cell & Equipment. 

  1. GOA SHIPYARD LIMITED, GOA.

The following expansion programme has been chalked out for execution in four phases at an estimated outlay of approximately Rs. 800 Crores, namely:-

(a)   Installation of 6000 Ton ship-lift & transfer system with associated civil structures.

(b)   Additional construction of berths for Offshore Patrol Vessels from 1 to 3.

(c)    Augmentation of Jetty Berthing Space from 4 wet berths to 10 wet berths.

(d)  Augmented material handling & crane capacity due to addition of new workshop cranes form 30 Ton to 80 Ton Capacity.

(a)  New Level Luffing outdoor cranes upto to 80 Ton Lifting capacity, two new block transporters of 100 Ton capacity.

(b) Increased repair capability with two berth for repairs of ships up to 6000 Ton and rationalisation of layout and material flow for efficient modular construction methodology. 

  1. HINDUSTAN SHIPYARD LIMITED, VISAKHAPATNAM.

An expansionprogramme for Repair and Refurbishment of Machinery & Infrastructure (RRMI) has been chalked out at an outlay of Rs.456.37 Crores. 

  1. MAZAGON DOCK LIMITED, MUMBAI

The following expansion programme has been chalked out at an estimated outlay of approximately Rs. 826 Crores, namely:-

(a) Creation of Module Workshop, 300 Ton Goliath Crane, New wet Basin and Cradle Assembly Shop.

(b) Augmentation of outfitting capacity from 3 Warships to 5 Warships and from 3 submarines to 6 submarines.

(c) Augmentation of submarine related infrastructure.

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